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Daily Digest 8/30 - Review Of Progress, Is An OPEC Production Freeze Remotely Possible?

Tuesday, August 30, 2016, 9:51 AM

Economy

Scientific Economics: Review of Progress (Wilson S.)

One of the motivating factors for the project came from a careful reading of Keynes’ book, The General Theory of Employment, Interest and Money, which many revere as an economic bible. The book is eloquent, witty, insightful, but unscientific and contains mathematical and logical errors. Unlike other rhetorical critiques, an early post on this blog shows from empirical data collected over recent decades that Keynesian policy has been harmful to the US economy and could lead to a Keynesian economic collapse.

Incomes and Outcomes: How the Middle Class May Have Gotten a Raise (jdargis)

Through a combination of low prices and moderate wage gains, 2015 may have been a great year for median household incomes.

Crackdown on For-Profit Colleges May Free Students and Trap Taxpayers (jdargis)

The goal of relieving students saddled with onerous debt and a subpar education can be at odds with reducing the cost to taxpayers who are likely to be stuck with the bill.

Prepare for Brain-Dead Corporate Tax Reform (Tiffany D.)

One of the great advantages of pass-through businesses is that they’re subject to a single tax on net income, whether or not it’s distributed as profit. There’s no corporate tax. Instead, a pass-through business’ income and expenses are reported by its owner on his or her individual tax return. Net business income is combined with income from other sources and subject to individual income tax.

The $8 Trillion Fight Over How to Rid America of Fossil Fuel (jdargis)

Among scientists, however, there is agreement. Two Harvard economists, after trawling through voluminous, authoritative research, said last year that the odds of an utterly catastrophic finale to humanity’s atmospheric experiment is about 10 percent. That’s a conclusion that can focus minds pretty quickly—and perhaps turn the expenditure of trillions of dollars over three decades into only a tough, but manageable, problem.

Is An OPEC Production Freeze Even Remotely Possible? (Josh O.)

This new attempt at a production freeze comes as Saudi Arabia, OPEC’s largest producer and de facto leader, reaches a new production record of 10.67 million barrels, more than 400,000 more than when the last freeze was discussed, while its oil revenues continue to plummet. OPEC profits have fallen 55 percent since 2014, according to the EIA. Ecuador, Kuwait and other Gulf producers want the price to recover past $50 a barrel. If a production freeze is on the cards, it will be discussed in late September during an informal meeting of the OPEC states at the International Energy Forum in Algeria.

The U.S. Is Now Eating and Wasting Twice as Much Food as It Did in 1975 (jdargis)

The greater threat to our health as a population, though, may be the fact that the total U.S. food supply (the amount available, both produced and imported) is now 4,000 calories per person per day, also according to the USDA. This means that close to half of that food supply is going to waste. At the same time, none of these numbers is growing as quickly as the total number of people. Between 1975 and today, the American population increased from 213 million to 319 million.

A Swarm Of Controversy (jdargis)

Since the early 1980s Hayes has written “The Classroom,” an advice column for the American Bee Journal, America’s oldest bee magazine. He is Dear Abby for beekeepers, counseling readers on everything from capturing swarms to making shoe polish from beeswax. (To Tommy, a North Carolina beekeeper asking why his bees swarmed too late to survive the winter: “Sometimes the stupid gene expresses itself, Tommy. Genes are always testing themselves to see if they bring reproductive value.”)

Gold & Silver

Click to read the PM Daily Market Commentary: 8/29/16

Provided daily by the Peak Prosperity Gold & Silver Group

Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

2 Comments

robie robinson's picture
robie robinson
Status: Diamond Member (Offline)
Joined: Aug 25 2009
Posts: 1182
good read

and my experience agrees with the percentages/acreages

Uncletommy's picture
Uncletommy
Status: Platinum Member (Offline)
Joined: May 4 2014
Posts: 570
Food wastage?

Just finished digging 6 - 20 foot rows of potatoes; a little over 400 lbs yield. Perfect moisture and growing conditions - great crop. Just phoned a friend from church to see if he might be interested in some. His response, " Are they bagged?"

I bet if we all grew our own potatoes, we wouldn't be throwing away half our food. Anybody interested in some potatoes?( by the way, they're not bagged).

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